First Bankcard finds PIN access drives mobile app use
Credit card issuer First Bankcard recently updated its mobile application, providing quicker access to accounts via a four-digit PIN, with frequency of use increasing following the change.
As credit card and banking customers get comfortable with managing their accounts via mobile, they are looking for features that make the process as quick and easy as possible. With this in mind, First Bankcard recently introduced the four-digit Passcode, which replaces the need to enter a username and password, as well as Quick Balance, which lets credit card customers view account balances and recent transactions without having to log in
“Within weeks of allowing users to select a PIN instead of the login and password, more than half of our mobile app customers switched to the easier PIN,” said Mihaela Kobjerowski, vice president of customer management and digital solutions at First Bankcard, Omaha, NE.
“We are also noticing that customers have significantly increased the frequency with which they access their credit card information via the mobile app – the majority check it as frequently as every couple of days,” she said.
With Passcode, customers can view their account information by keying in the four-digit code. This is much easier and quicker than having to enter in longer usernames and passwords on a small smartphone screen.
To use Quick Balance, customers must first set up a one-touch access to be able to get a quick overview of their account that shows the customer’s last 10 transactions.
First Bankcard is a division of First National Bank of Omaha, which is also making the Passcode and Quick Balance features are also available to its mobile banking customers.
A goal of the new features is to encourage adoption of the app and to drive ongoing engagement.
The easy way
Credit card management continues to get easier on mobile phones.
For example, Discover recently took mobile management for credit cards to a new level with Freeze It, a tool enabling cardholders to instantly stop purchases on their account from their smartphone when a card is misplaced and just as easily reinstate purchasing once it is found (see story).
In addition to Passcode and Quick Balance, the First Bankcard mobile app also enables users to review account details, make payments, view statements, set and receive email alerts, view messages, review profile information, connect with customer service and view and redeem awards.
“Consumers are used to everything on their mobile phone being fast – access to information about their credit card should fall in line with that fast and easy expectation,” Ms. Kobjerowski said. “First Bankcard’s mobile app now displays balance, payment due date, rewards points, and last transactions with one touch on our mobile app – the ‘Quick Balance’ link, to be precise.
“It shouldn’t be difficult for a consumer to find out when their payment is due,” she said. “If they want to make a payment right away, mobile app users will find it a lot more convenient now to log in with a four digit PIN, rather than type a login and password on their phone.”
Chantal Tode is senior editor on Mobile Commerce Daily, New York